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CFTC Mutual Fund Rule to be Appealed

The Chamber of Commerce and the ICI are appealing the District Court decision that upheld a CFTC rule requiring many funds that use futures, swaps, and options to register with the CFTC.  In upholding the rule, Judge Beryl Howell rejected arguments that the rule was unnecessary and that the CFTC had performed an inadequate cost-benefit analyses.  In an e-mailed statement to Bloomberg, David Hirschmann, president and chief executive officer of the Chamber’s Center for Capital Markets Competitiveness stated: “The district court’s decision fell far short of well- established D.C. Circuit precedent requiring agencies to adequately measure the costs imposed by capital markets regulations on businesses, investors and the economy as a whole, and to weigh them against the desired benefits.”

Additional details about the District Court ruling can be found here.

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